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Side-by-Side Comparison|Updated March 2026

Paytm SBI Card vs Axis Bank Magnus Credit Card

Detailed comparison of fees, rewards, benefits, and value to help you choose the right credit card for your spending pattern.

SBI Card

Paytm SBI Card

7.5/10
Annual Fee₹499
Base Rewards1%
NetworkRuPay
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Axis Bank

Axis Bank Magnus Credit Card

8/10
Annual Fee₹12,500
Base Rewards0.2%
NetworkVisa
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Feature-by-Feature Comparison

FeaturePaytm SBI CardAxis Bank Magnus Credit Card
Annual Fee₹499₹12,500
Joining Fee₹499₹12,500
Fee Waiver SpendN/A₹25,00,000
Base Reward Rate1%0.2%
Reward CurrencyReward PointsEDGE Reward Points
NetworkRuPayVisa
Editor Rating7.5/108/10
Forex Markup3.5%3.5%

Accelerated Rewards

Paytm SBI Card

  • 0% on Paytm Mall
  • 0% on Paytm Travel
  • 0% on Paytm Movies
  • 0% on Paytm App Spends

Axis Bank Magnus Credit Card

No accelerated rewards listed

Pros & Cons

Paytm SBI Card

Pros

  • 3% reward points on Paytm Mall, movies, and travel bookings via Paytm app.
  • 2% reward points on all other purchases made through the Paytm app.
  • 1% reward points on all other retail spends, including offline and online stores.
  • Complimentary 1-year Paytm First Membership worth ₹750 as a welcome benefit.

Cons

  • No annual fee waiver based on spending; fee is fixed at ₹499.
  • No complimentary domestic or international airport lounge access.
  • Rewards are credited as Paytm Gift Vouchers, not direct statement credit.

Axis Bank Magnus Credit Card

Pros

  • High reward rate of 17.5 EDGE points per ₹200 on spends above ₹1.5 Lakhs monthly.
  • Unlimited domestic and international lounge access for primary and add-on cardholders.
  • Low foreign currency markup fee of 2% for international transactions.
  • Welcome benefit voucher worth ₹12,500 effectively offsets the joining fee.

Cons

  • Significant devaluation in 2024 removed monthly milestone bonuses and concierge services.
  • High annual fee waiver threshold of ₹25 Lakhs is difficult for most users to reach.
  • Reward points transfer ratio to air miles reduced from 5:4 to 5:2 for non-Burgundy users.

Our Verdict

Both Paytm SBI Card and Axis Bank Magnus Credit Card are strong options. Your choice should depend on your spending pattern and which card's rewards align better with your lifestyle.

Choose Paytm SBI Card if

High reward rates of 2-3% on the Paytm ecosystem make it very rewarding for frequent app users.

Choose Axis Bank Magnus Credit Card if

Best value is unlocked after crossing the ₹1.5 Lakh monthly spend threshold.

Frequently Asked Questions

Which is better: Paytm SBI Card or Axis Bank Magnus Credit Card?
Both Paytm SBI Card and Axis Bank Magnus Credit Card are strong options. Your choice should depend on your spending pattern and which card's rewards align better with your lifestyle.
What is the annual fee difference between Paytm SBI Card and Axis Bank Magnus Credit Card?
Paytm SBI Card has an annual fee of ₹499, while Axis Bank Magnus Credit Card has an annual fee of ₹12,500. Axis Bank Magnus Credit Card offers a fee waiver on ₹25,00,000 annual spend.
Which card has better rewards: Paytm SBI Card or Axis Bank Magnus Credit Card?
Paytm SBI Card offers a base reward rate of 1% with accelerated rewards on Paytm Mall and Paytm Travel. Axis Bank Magnus Credit Card offers 0.2% base rewards. The better choice depends on your primary spending categories.
Can I have both Paytm SBI Card and Axis Bank Magnus Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. Paytm SBI Card and Axis Bank Magnus Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: Paytm SBI Card or Axis Bank Magnus Credit Card?
For beginners, Paytm SBI Card may be more approachable with a lower annual fee of ₹499. However, evaluate based on your expected spending pattern rather than fee alone.

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